buying India’s Flipkart.  continues taking over on technology control the e-commerce  and compete against Amazon. The company finally make it official. Because the giant corporation acquiringFlipkart.

The world’s largest retailer will take control soon. the Bengaluru-based e-commerce company for its biggest acquisition , Softbank executive officer Masayoshi Son in an earnings webcast today,as per Bloomberg.

Softbank’s 20% stake in Flipkart valued at $4 billion. (Rs27,000 crore). Son , adding that he had invested $2.5 billion in the company. Son did not share any further details the transaction.

purchasing Flipkart. Last night there was the official announcement. I believe the deal was reached and the money 2.5 billion that we have invested has turned out be 4 billion.” Son said.

The acquisition may cost Walmart $15 billion, according to a previous estimate by Bloomberg.

Amazon was also reportedly in the fray acquire Flipkart and went far enough offer a “breakup fee” of up to $2 billion to prove its seriousness. A breakup fee penalty has set during the takeover process. This agreement will pay if the backs out the deal.

However, Walmart managed to seal the deal and is now in a to take the fight to Amazon in India’s e-commerce , is estimated to grow over 13 times to $200 billion by 2026.

A giant leap

The deal marks a significant milestone for Flipkart.

What started in 2007 as an online bookstore operating out of the Bansal duo’s two-bedroom apartment in Bengaluru. Flipkart is now the most-valued new-age internet company in the country. With 30,000 employees. It is also one of the highest-funded private companies in the world. has given a giant like Amazon a tough time in India during the last five years?

An internet business billions and backed by marquee like Softbank, Tiger Global, DST Global, and Accel Partners, among many others, Flipkart helped break India’s image as just the world’s back office.

Let the battle

Following this deal, the Indian e-commerce space will now become a battlefield for two American behemoths: Walmart and Amazon.

The two companies fiercely competing against each other in the US, including by acquiring smaller players. Flipkart’s acquisition widely considered as an extension of the battle.

“In the US, Walmart is the formidable left for Amazon. Walmart has been growing its e-commerce operations a lot and Amazon has increased its footprint with physical stores,” Kartik Hosanagar, a professor of technology and digital business at the of ’s Wharton School, told Quartz last week.

“Walmart’s looming investment in Flipkart reflects that. Walmart is fighting Amazon and Alibaba in China through its partnership with JD. I suspect something similar will happen in India through a partnership with Flipkart,” he added.